Hazelbank Flats Management Company Ltd - Period Ending 2016-09-30

Company registration number: 03031124

Hazelbank Flats Management Company Ltd
 
  Annual Report and Unaudited Abbreviated Accounts
 
  Year Ended 30 September 2016
 

Beresfords
  Chartered Accountants
  Castle House
  Castle Hill Avenue
  Folkestone
  Kent
  CT20 2TQ

Hazelbank Flats Management Company Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3

Hazelbank Flats Management Company Ltd
(Company registration number: 03031124)
Abbreviated Balance Sheet
30 September 2016

		Note			2016 £			2015 £
Current assets
Debtors					24			887
Cash at bank and in hand					27,833			22,305
					27,857			23,192
Creditors: Amounts falling due within one year					(1,296)			(908)
Net assets					26,561			22,284
Capital and reserves
Called up share capital		2			24			24
Income and expenditure account					26,537			22,260
Members' funds					26,561			22,284

The notes on page 3 form an integral part of these financial statements.
 
  Page 1

Hazelbank Flats Management Company Ltd
(Company registration number: 03031124)
Abbreviated Balance Sheet
30 September 2016......... continued

For the year ending 30 September 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime .

Approved by the Board on 21 June 2017 and signed on its behalf by:

 
 
 
  .........................................
 Mr J E Corrigan
 Chairman

The notes on page 3 form an integral part of these financial statements.
 
  Page 2

Hazelbank Flats Management Company Ltd
Notes to the Abbreviated Accounts
Year Ended 30 September 2016......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective January 2015).

The accounts do not include a cash flow statement because the company, as a small reporting entity, is exempt from the requirements to prepare such a statement.

Turnover

Turnover represents service charges receivable from the residential lessees.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability in the balance sheet. The corresponding dividends relating to the liability component are charged as interest expense in the profit and loss account.

2	Share capital

Allotted, called up and fully paid shares

	2016						2015
		No.			£			No.			£
Ordinary shares of £1 each		24			24			24			24

3

Control

The company is controlled by the residential lessees. The flat owners each hold 1 share in the company. This share is transferred to any new owner on the sale of each flat.

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